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Goa: Mining auction to start on Wed with Bicholim block

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Goa: Mining auction to start on Wed with Bicholim block

on offer

The auction of mines in Goa is scheduled to start from Wednesday with the Bicholim block on offer, sources in the know said. The block, with estimated reserves of about 18 million tonnes (MT) of iron ore, is among the three mines put on the block by the state-owned Goa Mineral Development Corporation (GMDCL) last month.

PANAJI: On Tuesday and Thursday, respectively, the state administration will announce the names of the bidders who met the requirements for the Bicholim and Sirigao-Mayem mineral blocks, as well as open the first bid pricing for each. The blocks will be auctioned the day after the opening bid prices are made public, and the winning bidders’ identities will also be made public on same day. The Sirigao-Mayem block will be put up for auction on Friday, while the Bicholim block will be sold at auction on Wednesday. The Monte De Sirigao and Kalay mineral blocks would likely go through a similar procedure from the state government the following week. There are just four mining corporations in Goa: Rajaram Bandeka, V M Salgaocar, and Fomento.

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